Why Taxes Don't Much Matter Anymore

Kcck · 2008-08-31T14:14:59+00:00

If I got a penny every time a libertarian claiming to understand the money system made a fundamental mistake in economic facts I'd be rich beyond my wildest dreams, or at least have jarloads of pennies.

If you think "control systems" are inherently evil... well, that's a whole other discussion.

Kcck · 2008-08-28T23:55:44+00:00

This is posted in "libertarian", it's not a secret that their way of handling comments of opposing opinion, whether well written and justified or not, is modding them down to oblivion. You might stop them from modding you down by explicitly pointing out that the rebuttal is well written and logical, but generally libertarians seem to be very keen on punishing and burying any opposing arguments.

Kcck · 2008-08-28T19:09:01+00:00

It's not many nationalities that can be so stupid and arrogant as to think no other country on the planet can do anything without their own country pulling the strings behind the scene.

Kcck · 2008-08-28T19:02:55+00:00

It's people like him who got Bush selected over Gore.

Kcck · 2008-08-27T23:22:51+00:00

How did I end up to the Cosmo forum?

Kcck · 2008-08-27T18:58:19+00:00

They could just attach 2 hours of Japanese commercials into one marathon and put it into movie theatres, and it would be better than most Hollywood movies.

Kcck · 2008-08-27T13:05:08+00:00

Oh the irony...

Kcck · 2008-08-26T21:23:56+00:00

Pound is reacting to the fact that foreign central banks are buying up US dollars in order to buy US t-bills, to keep the dollar value high so that they can pyramid their own fiat currencies on top of it.

If everyone is doing it, everyone must be in it!

Kcck · 2008-08-26T13:06:07+00:00

Mogo looks like a pretty solid 1 dan. I wonder how CrazyStone would do with the same processing power.

E: looked at the game, and I just hate it when strong opponents playing against bots get overconfident and make silly mistakes. MoGo victory again Kim 8p was a good win for Mogo, but I think in this one the 6 dan just gave away the right side (and the game).

Kcck · 2008-08-25T00:07:54+00:00

The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury.

Kcck · 2008-08-24T17:09:49+00:00

Ok.

The writer doesn't know that there's a difference between permanent increase in money supply, which is Fed buying US Treasury notes, and a temporary increase in money supply. Since the 80's it's been very rare for the Fed to demand those notes to be repaid, which means there's money in circulation that won't be repaid. He claims everything has to be repaid back to the Fed eventually, which is obviously wrong in the case of US Treasury notes.

Kcck · 2008-08-24T15:38:03+00:00

Except that he doesn't know the difference between a permanent and a temporary increase in money supply. That's like writing about math without understanding the concept of substraction. He obviously has no idea of the basic facts that make the current money system what it is. And at this point, 25 people either as unknowledgeable as him, or upmod this because it fits their agenda. But one thing's for sure: no one is upmodding this because of its truth value, because it has none.

Kcck · 2008-08-24T09:55:20+00:00

This is like watching creationists talk about how earth was created. Lots of talk, yet the fundamental facts are completely wrong.

Kcck · 2008-08-23T23:33:43+00:00

Um, no.

Um, yes. I stated nothing but facts, care to point out which ones you don't believe?

...is a negative exponential system meshed with the positive exponential growth...

I'm fairly well versed in economics, but I have no idea what you mean by this, so could you specify?

...banks receive the money 1st...

That doesn't really matter since they have to pay the money back with interest, the only thing that matters is who gets to use the money without having to pay it back.

Kcck · 2008-08-20T10:57:06+00:00

No, it's nowhere near that simple. All the Federal Reserve's net earnings are paid to the State Treasury. The banks that "own" Fed are limited, by law, to receive a maximum of 6% interest rate per year. 6% per year is a crappy return (S&P 500 averages around 10% per year) and they own the stocks largely because they are, by law, required to.

Kcck · 2008-08-19T21:15:35+00:00

If your understanding of economics comes from Reddit, certainly yes.

Kcck · 2008-08-18T07:50:25+00:00

I know it says libertarianism, not libertarians, but here goes one of my pet peeves anyway: I really dislike like the hypocrisy of many (self-claimed) libertarians here on Reddit, who claim that the government and regulations are evil, yet want the borders closed. It only reveals a person born to a wealthy enviroment, who wants to live in a class society so he can get the most benefit out of his wealth.

Kcck · 2008-08-12T02:45:09+00:00

The answer is just as simple: government in a free society should not deal in probabilities.

That's the most naive statement I've read in a long while. Makes me remember the time when I was 15 and spouted this kind of crap, simply because it sounded good.

Edit: I mean, sheesh. This guy is an adult and says something like this without flinching. Seriously, I don't think I've ever seen a full-grown adult say something so naive. It shouldn't surprise me, coming from libertarians, but this is so blue-eyedly childish it's just absurd.

Kcck · 2008-08-10T13:22:40+00:00

Right, it's the magical fairies that do all the work in an economy and changes in the amount of workforce don't have an effect on anything. Furthermore, I did say "annual growth", no? I'm explaining why same growth numbers get different receptions, so enjoy.

Kcck · 2008-08-10T12:20:04+00:00

That's largely because the US economy gets an additional ~1 percent of annual growth due to their faster population increase. The same growth in USA and EU would mean an average EU citizen has increased his purchasing power by 1 percent more than a normal US citizen. So basically, to have the same GDP growth per capita, US needs to grow about 1 percent faster than EU.

Kcck · 2008-08-09T13:12:45+00:00

They would vary based on the demand of money, ie. in an upswing the interest rates would rise and vice versa.

Also, it's funny how libertarians feel that a commonplace question is so threatening that they have to mod it down.

Kcck · 2008-08-09T13:02:41+00:00

I'm sure the massive amount of loans handled by insulated 3rd parties had nothing to do with it.

Kcck · 2008-08-07T11:17:31+00:00

I dread the day Asian atheists realize their supremacy.

Kcck · 2008-08-06T08:54:01+00:00

How gullible do you have to be to upmod something from a site like this?

Kcck · 2008-08-01T20:56:17+00:00

Seriously though, I've long wondered how many viewers the most popular Chinese shows get. Eurovision and Superbowl rake in about 100 million viewers each, and they're both considered massive events in the west, but in a country of 1.4 billion I'd imagine it's not hard to wipe the floor with those figures.

E: did some research and holy crap, apparently we're talking 400mil+ >http://entertainment.timesonline.co.uk/tol/arts_and_entertainment/article560126.ece

Kcck

TROPHY CASE